On October 2, 2012, the Riverside City Council approved a plan that will extend electric rate freezes for Riverside Public Utilities (RPU) residential and commercial customers through the end of January 2014.
The initial rate freeze, which was part of RPU’s Electric Environmental and Economic Effectiveness Plan (E4) created in 2010, provided stable energy rates through the end of this year. With the council’s decision, RPU energy customers will continue to reap the benefits of this plan for another 15 months.
“Our customers continue to face economic challenges and uncertainties every day,” said RPU General Manager David H. Wright. “With this extension, we can provide them with something predictable – stable energy rates.”
RPU created its E4 plan to assist and support the city’s commitments toward creating a more sustainable community through the development of a green economy which would generate a market segment that could provide jobs and local economic development.
In addition to freezing electric rates for all RPU energy customers, the plan established an Economic Development and Business Retention rate, which has assisted existing businesses with energy costs and enticed new businesses to relocate to the city. Since its inception, the utility’s plan has integrated with the city’s “Seizing our Destiny/Economic Development Action Plan.”